Xiaomi has launched the £7.50 wearable, the MiBand. Great, but only if you are in China

Have you been looking at wearable fitness trackers, but been put off by the steep price tag? Well, you’re in luck, (if you live in China that is) as Xiaomi, has launched a new wristband, the MiBand, for just £7.50. Yes, we promise we’re not missing any 0s off of that!

Often referred to as ‘China’s Apple’, Xiamoi is launching the MiBand alongside the Mi4, the company’s newest phone model, with a 5in screen offering 17% greater resolution than Apple’s more expensive iPhone 5S.

The MiBand acts as an ID authenticator, allowing the phone to be unlocked without a password, but it also acts like a fitness tracker, measuring activity levels and sleep patterns. What’s great about the wristband is that it has a smart sleep-cycle AND is waterproof too. Xiaomi also claims that the wearable has a 30-day battery life.

The phone costs £189 for the 16GB version, and £235 for the 64GB edition.

There have been rumours of Chinese phone brands targeting Europe – so who knows one day you might see this in your local Phones4U.

More importantly it does underline that Chinese companies are gearing up to produce ultra cheap, but feature-packed wearables.